Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Washington's move, associated with tightening oversight and enforcement of sanctions on Russian oil shipments, is viewed by Moscow as provocative and could worsen relations between the two countries. Russia views these actions as an attempt by the United States to suppress Russian energy exports and strengthen its dominance in the global oil market. Meanwhile, Washington argues that these measures...
Gold retains bullish bias amid economic risks, dovish Fed, weaker USDUS President Donald Trump threatened on Tuesday to terminate trade with China in cooking oil and other products in response to the latter's decision not to purchase US soybeans. China also announced new special port fees for US ships arriving in Chinese ports and enhanced restrictions on the export of rare earths. This marks a significant escalation of the trade war between the world's two largest economies. Adding to this, geopolitical risks and concerns that the US government could affect the economic performance drive...
The U.S. currency slipped lower following a speech by Jerome Powell on Tuesday, in which the Federal Reserve chair left the door open to further rate cuts by saying the U.S. labor market remained in the doldrums. Markets are currently priced for a quarter-point cut at the October 28-29 Fed gathering and another at the following meeting in December, followed by three more cuts next year, according to LSEG data. "Risk sentiment improved throughout Tuesday – boosted by strong U.S. bank earnings – before Powell's speech added dovish-sounding headlines: slower payrolls, tolerable inflation, and...
Silver climbed back above $52 per ounce on Wednesday, holding close to record highs hit in the prior session as a global supply crunch fueled a historic rally. Tightness was most acute in the London market, where a short squeeze sent lease rates surging over 30% on Friday, driving rollover costs for short positions to unsustainable levels. Demand from India has further strained supply, prompting several mutual fund houses to suspend inflows into their silver ETF fund-of-fund schemes. Meanwhile, dovish remarks from Fed Chair Powell, who pointed to labor market weakness, strengthened bets on...
The Australian dollar strengthened against the US dollar on Wednesday, recouping the previous session's losses. This boost came from comments by RBA Assistant Governor Sarah Hunter: recent data appeared slightly stronger than expected, Q3 inflation is likely higher, the labor market and economic conditions could be tighter than assumed, and the board is prepared to adjust policy accordingly—although she acknowledged consumer momentum could weaken in Q3. The AUD's movement was also influenced by China's inflation release: September CPI -0.3% YoY (expected -0.1%; August -0.4%) with monthly...
Oil prices stabilized after hitting a 5-month low. WTI hovered near $59/barrel and Brent around $62, indicating the market remains hesitant after the previous sharp decline. The IEA predicts an unprecedented oversupply: by 2026, global supply could exceed demand by ~4 million barrels per day. This glut outlook weighed on sentiment, and some Wall Street banks see a return to the $50s. On the geopolitical front, US–China tensions have flared again: Beijing imposed sanctions on the US unit of a Korean shipping giant, sparking fears of retaliation. However, USTR Jamieson Greer believes export...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
European stock indices closed marginally lower on Wednesday as equities took a breather from their recent strong momentum, while investors continued to assess the outlook for the ECB's policy this...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds.
Equity markets...